Zacks: Analysts Anticipate Wright Medical Group Inc (WMGI) Will Post Quarterly Sales of $215.69 Million

Equities analysts forecast that Wright Medical Group Inc (NASDAQ:WMGI) will post $215.69 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Wright Medical Group’s earnings, with the highest sales estimate coming in at $217.63 million and the lowest estimate coming in at $200.74 million. Wright Medical Group posted sales of $193.02 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.7%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, February 27th.

According to Zacks, analysts expect that Wright Medical Group will report full year sales of $215.69 million for the current fiscal year, with estimates ranging from $728.13 million to $745.02 million. For the next year, analysts expect that the company will report sales of $808.95 million per share, with estimates ranging from $805.79 million to $818.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Wright Medical Group.

A number of analysts recently weighed in on WMGI shares. ValuEngine lowered shares of Wright Medical Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. TheStreet lowered shares of Wright Medical Group from a “c-” rating to a “d+” rating in a research note on Wednesday, December 27th. Royal Bank of Canada restated a “buy” rating and set a $30.00 target price on shares of Wright Medical Group in a research note on Thursday, November 2nd. Cantor Fitzgerald restated an “overweight” rating on shares of Wright Medical Group in a research note on Friday, January 5th. Finally, BidaskClub upgraded shares of Wright Medical Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $31.89.

Shares of Wright Medical Group (NASDAQ:WMGI) traded down $0.36 during trading hours on Friday, reaching $20.06. 983,145 shares of the company’s stock were exchanged, compared to its average volume of 1,236,366. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.31 and a quick ratio of 0.96. The stock has a market capitalization of $2,119.88, a price-to-earnings ratio of -7.57, a PEG ratio of 153.57 and a beta of 0.60. Wright Medical Group has a one year low of $19.04 and a one year high of $31.53.

Several hedge funds have recently added to or reduced their stakes in WMGI. Prudential Financial Inc. increased its stake in Wright Medical Group by 9.1% in the second quarter. Prudential Financial Inc. now owns 7,678 shares of the medical device company’s stock valued at $211,000 after purchasing an additional 640 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Wright Medical Group by 15.2% in the second quarter. PNC Financial Services Group Inc. now owns 12,424 shares of the medical device company’s stock valued at $342,000 after purchasing an additional 1,636 shares during the last quarter. Vanguard Group Inc. increased its stake in Wright Medical Group by 1.8% in the second quarter. Vanguard Group Inc. now owns 8,232,880 shares of the medical device company’s stock valued at $226,321,000 after purchasing an additional 145,930 shares during the last quarter. California Public Employees Retirement System increased its stake in Wright Medical Group by 2.6% in the second quarter. California Public Employees Retirement System now owns 188,140 shares of the medical device company’s stock valued at $5,172,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Wright Medical Group by 8.9% in the second quarter. Parametric Portfolio Associates LLC now owns 47,233 shares of the medical device company’s stock valued at $1,298,000 after purchasing an additional 3,871 shares during the last quarter.

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About Wright Medical Group

Wright Medical Group, Inc is a global specialty orthopaedic company. The Company through Wright Medical Technology, Inc (WMT) and other subsidiaries provides extremity and biologic solutions that enable clinicians to alleviate pain and restore the patients’ lifestyles. The Company operates through three segments: U.S., International and BioMimetic.

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